The Best Way to Choose an Insurance Company

Choosing an insurance company requires you to look at a few important aspects of every company you're considering entering into an agreement with. Find out about the best way to choose an insurance company with help from a professional financial planner in this free video clip.

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Video Transcript

Hello, my name is Michael Hardy with Mullet and Hardy out of New York. Today, we're going to talk about how to choose an insurance company. When you choose an insurance company typically you're going to buy your insurance product through an insurance broker or agent. My recommendation would be to establish a relationship with an agent or broker that you trust and respect and feel that can guide you in the right direction when choosing an insurance company to buy your product from. To deal direct with companies is very complicated although you can do it, although you don't have somebody guiding you. An insurance company is going to have many moving parts. An insurance broker or agent is somebody that's going to help you determine which parts to take a look at and what are important to understand. Ratings are very important to know about an insurance company. How is that company rated? Typically you only want to look at companies that have an A rating or better. An insurance company can have financials also that you want to look at. Is the company strong? Has it been performing well for a long period of time? Has it been around for a long period of time? Is this a company that is stable and has a good reputation? Those are all the very important things, the foundational things that you want to look at when understanding an insurance company to pick. So that's the type of company you want to look at. My name is Michael Hardy with Mullet and Hardy. Thank you.